Oil trades sideways on fears of slower demand, supply uncertainty

Fri, 2022-06-24 09:28

SINGAPORE: Oil prices traded sideways on Friday after briefly rising nearly $1 per barrel, as the market balanced fears of slower demand from cooling US economic activity with supply uncertainty.

Brent crude futures were trading down 5 cents, or 0.1 percent, at $110.00 a barrel by 0310 GMT, while US West Texas Intermediate crude futures were up 19 cents, or 0.2 percent, at $104.46 a barrel. Prices fell around 1.5 percent in the previous session.

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